Championship Hull City have confirmed that former chairman Adam Pearson has been sacked from his consultancy role with immediate effect.
The news follows unconfirmed reports that boss Nicky Barmby has been suspended by the Tigers over alleged comments he has made about the Tigers' finances.
Club owners Assem and Ehab Allam have refused to comment on speculation regarding Barmby, but they made an official statement regarding Pearson's departure.
They said:<> "When we acquired the football club we made it clear we would run it in accordance with sound and proper business principles and procedures.
"We have not and will not deviate from those principles.
"Therefore although we fully appreciate the supporters' and media's desire for information we cannot comment on the manager's position at the present time. We will however provide further information when we are able to do so.
"Having listened to media speculation today over funds not being available in the January transfer window, we reiterate that funds were available as previously stated by us.
"We also confirm the club has terminated the consultancy agreement with Adam Pearson without notice and without compensation."
With regard to speculation that the club was up for sale, the Allams' statement continued: "We can categorically confirm there is no truth in that rumour and we are fully committed to Hull City and its future."